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The liability shift has officially hit. Did your business upgrade its equipment in time for the deadline? If not, you’ve probably discovered that the world has not come to an end. However, while you might not feel the effects of the liability shift immediately, becoming EMV-compliant should still be at the top of your priority list.

Don’t just think of it as another task to add to your growing to-do list. By upgrading your equipment and payment processes, you’re truly being a responsible business owner, putting your customers’ data security first. Plus, at the same time, you save yourself the risk of taking on the (costly) liability should a fraudulent charge or data breach occur at your establishment. Here, we’ve rounded up the top three reasons why you should make the switch to EMV-compatible equipment ASAP.

Avoiding Liability Costs = Greater Profits

Every dollar counts when it comes to running a business, especially a smaller one. And that’s why it’s so important for merchants to get on board with new EMV terminals. New POS systems are an investment, but it’s certainly an investment worth making. Since the liability shift on October 1, merchants with outdated equipment are now liable for any fraudulent charges made at their store with an EMV chip card. No merchant is completely safe from fraud, but by upgrading equipment, they can avoid liability costs—and at the end of the day, bring home greater profits.

Meeting Consumer Demands = Happy, Returning Customers

Picture this: It’s the day after Thanksgiving and your store is flooded with customers trying to snag the best deals. A customer finally makes it up to the checkout counter, ready to dip his or her shiny new EMV card, just to find out that they have to use the mag stripe (dun dun dun…). Consumers are smart—they know that it’s more secure to use the chip to make payments than the mag stripe, and they probably also know that your competitor down the street is able to accept the new technology. Chances are, consumers may value the security of their payment data more than the deal you’re offering. Don’t risk losing customers simply because you’re behind the times. Consumers will appreciate the fact that you’re making the security of their data a priority, and you can bet that it will pay off.

New Terminals = Cool New Tech

It’s so easy for POS terminals to fall out of date. You miss one software upgrade and from then on, the technology is unable to live up to its capabilities. Use this opportunity to get a fresh start with your POS system. You can choose to include NFC or contactless payment technology, POS marketing capabilities, and many other perks that you couldn’t justify purchasing on their own. Your new terminals will be easier to manage (your employees will thank you), easier to use (your customers will thank you) and ultimately, they’ll make you look tech-savvy and cool. Bonus!

So, what are you waiting for? The sooner you adopt new EMV technology at your establishment, the sooner you can reap the benefits! Contact your credit card processor today to get started making the transition.

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October 1st was the deadline for merchants to upgrade their POS systems to be EMV chip card-compatible. From now on, if a consumer uses an EMV card at an outdated terminal, the merchant will be liable for any fraudulent charges associated with the purchase.

Earlier this month COO of Abtek, Tami Cohorst was featured on WXYZ-TV Channel 7 in Detroit to discuss the current EMV chip card landscape in the United States. Learn why some consumers may not have received their chip cards yet and discover what this transition to EMV will do for our payment security as a country.

View the clip below!

EMV Chip Card Transition Deadline Is HereOur COO Tami Cohorst appeared on WXYZ-TV Channel 7 ahead of today’s EMV liability shift deadline to talk to Stephen Clark and JoAnne Purtan. Have questions about how to get your business chip card-ready? Call us at 248-623-4430 today!

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With the liability shift now less than a week away, merchants, especially smaller ones, are struggling to upgrade their terminals in time. COO of Abtek, Tami Cohorst was recently quoted on the topic in the Statesman Journal, sharing her expertise on EMV technology and how it will affect consumers. Here’s a look at what she had to say:

“The most important thing for the consumer to understand is that their card should be handled differently at the point of sale. Consumers will need to note that their card should be inserted into a reader rather – not swiped. If the business swipes their new card, then all of the security benefits of their EMV card are nonexistent,” Cohorst said.

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By now, if you haven’t updated your payment equipment to be compatible with EMV chip cards, you’re already a step behind. But, don’t fret—if you own a small business, there’s still time to get new terminals before the liability shift hits on October 1. This late in the game, it will actually be tough to find a new point of sale system that isn’t compatible with EMV chip cards. That’s good news for you because it will make your search easier, plus you’ll have a wide selection of options. We’ve put together a guide to help you determine which type of EMV terminal is right for your business.

What Exactly is an EMV-Compatible POS System?

An EMV terminal differs from traditional magnetic stripe terminals in one major way: it includes a chip-reading portal into which customers insert their EMV cards. This portal features technology that can read the unique payment information that’s generated by the microchip embedded into the card.

What are Your Options?

Different types of businesses have different needs when it comes to payment processing. Here’s a look at the most popular types of EMV-compatible terminals available.

Countertop Terminals – Like their name implies, countertop terminals are placed on top of the checkout counter for customer use. These terminals are available with a number of different features including WiFi connectivity, receipt printing, near-field communication technology and more.

Pin Pads – Pin pads function similarly to countertop terminals. The only difference here is that they can only be used to process debit transactions, which typically have lower fees for the merchant. Often, pin pads are used in conjunction with compatible countertop terminals.

Near-Field Communication Peripherals – NFC is a technology that enables wireless data transfers between two devices in close proximity, often a phone or enabled credit card and a credit card terminal. NFC is kind of like a modern, cool “bonus” feature that can help to speed up the payment process. If the technology is not already embedded into the terminal, peripheral equipment is available.

Wireless Mobile Terminals – Mobile terminals will be key for businesses in the restaurant industry and businesses that interact with their customers on the floor. (Think Apple.) These point-of-sale systems are battery-powered, feature wireless connectivity and give the merchant the freedom to process payments from anywhere.

Where Can You Buy an EMV Credit Card Terminal?

If you work with a reputable merchant services provider (MSP), they’ll have a large inventory of EMV terminals for you to choose from. They’ll take care of all of the programming for you to ensure that it works properly in time for the liability shift. While you could technically purchase a terminal from an outside seller, it would still need to be reprogramed by your MSP, so it’s typically easier and more cost-effective to go directly through your provider.

Don’t Delay – Get Started Now!

Contact your merchant services provider today to place your order for new EMV-compatible terminals. The sooner you take action, the better the chances that you’ll get through this EMV transition chargeback- and fee-free!

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The EMV liability shift is now less than three weeks away! Is your business prepared for an influx of chip card-carrying customers? You may have installed new terminals and software, but now what?

If you’ve been to Target recently, you may have noticed that the staff is now actively encouraging all customers who have EMV chip cards to run them the proper way—by dipping them in the terminal, instead of swiping. Now, accepting EMV chip cards is great for your business and even better for customers—but it can be bad for your checkout line wait times if your customers don’t know how to run them properly.

So, now it’s time to train your staff. It’s important for your employees to be patient as millions of Americans learn how to use their new cards. It’s certainly not hard to run an EMV card, but it is a significant change in the way we’re used to paying. It’s a change of habit, and it will take time for the public to become completely comfortable with the new payment process. You can share this infographic with your employees to bring them up to speed on this new-fangled technology. When they understand how to use the terminals, it will be easier for them to explain to customers how to use them as well. Remember, good customer service leads to happy customers! You can see the text-only version of this guide by clicking here.

Text-Only Version:

6 Easy Steps for Chip Payments

Examine the terminal – Does it have a portal on the bottom designed to read chips?

If not, slide your card as if you would a regular magnetic stripe card.

If yes, gently insert your card into the terminal—it should be sticking about halfway out.

Leave your card in the terminal as it reads the unique code generated by the chip. You may need to wait for up to 10 seconds for the transaction to complete.

Remove your card, and place it back safely in your wallet or purse.

Sign for the purchase to help verify your identity in the case of fraud. Or, if you are using a debit card, you may need to enter a PIN.

Why the change? EMV chip cards are designed to be significantly more secure than magnetic stripe cards. Because the chip generates a unique code for each transaction, it drastically reduces the risk of a customer’s credit card information being stolen in the event of a data breach.

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Being able to accept EMV cards isn’t as simple as flipping a switch on your existing terminals. In most cases you’ll have to physically replace your POS equipment to be able to accept these more secure, chip-enabled cards. And with only half of merchants expecting to be ready by the October 1 deadline, there’s a lot of work still to be done.

What does the Liability Shift Really Mean?

Currently, merchants are at quite a disadvantage when it comes to credit card fraud. In the event of a fraudulent credit card charge, the merchant is first faced with the loss of the merchandise, which in most cases is irreversible. Then, the cardholder’s bank (the card-issuing bank) takes the hit for the lost funds, meaning that they’re responsible for refunding the person who was the victim of fraud. These banks, however, often look to the merchant for reimbursement, claiming that the business didn’t take the proper measures to prevent the fraudulent charge from occurring.

Come October 1, what we know about fraud liability will be flipped upside down. In essence, once the shift hits, the fraud liability will transfer to the party that has not adopted the new EMV chip card technology.

Here’s a detailed look at how the liability shift will affect your business, depending on the situation in which fraud occurs:

Situation 1: A magnetic stripe card is swiped at an outdated terminal

The merchant hasn’t gotten around to updating their terminals, but lucky for you, the fraudulent charge was made with a traditional magnetic stripe card. In this situation, both parties—the merchant and the card-issuing bank—are at fault, meaning that the liability falls initially on the card-issuing bank, just like today.

Situation 2: An EMV chip card is swiped at an outdated terminal

This is when things really go downhill for merchants. If a customer comes into your store with a chip-enabled card, but they don’t have the equipment to process it properly, they’ll be forced to run it as a magnetic stripe card. This puts the cardholder at an unnecessary risk for a breach of their payment data. In this case, the merchant has not invested in the more secure chip technology and the card-issuing bank has, so the liability falls on the merchant.

Situation 3: A magnetic stripe card is swiped at an EMV-enabled terminal

A recent poll shows that only one in 10 Americans have received new EMV chip cards from their banks. The cost to replace mag stripe credit cards is starting to catch up with the banks and we can expect a number of consumers to still be using magnetic stripe cards, even after the liability shift hits in October. In this case, so long as you have upgraded your equipment, the liability will fall on the card-issuing bank.

Situation 4: An EMV chip card is swiped at an EMV-enabled terminal

In this situation, all parties have put in the effort to upgrade their payment technologies, so it’s unlikely that fraud would even occur in the first place. However, if a fraudulent charge does occur, the liability would fall on the card-issuing bank.

Contact your merchant solutions provider today to find out how you can get EMV-compliant by October 1.

Abtek is here to help merchants like you make the transition from traditional POS terminals to EMV-enabled equipment. We know that EMV can be confusing, and we’re here to answer all of your questions. Give us a call today at (800) 544-9145 to explore your options, before it’s too late! October 1 will be here before you know it! Follow us on Facebook, Twitter, and LinkedIn.

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We are now less than 90 days until the EMV liability shift. Come October 1st, if your business isn’t prepared with EMV “chip card”-compatible processing equipment, you could be liable for losses due to fraudulent charges at your establishment. But, there’s no need to panic! Here, we’ve put together a handy dandy checklist to help you stay on top of the things you need to do before the October 1st deadline hits.

Step 1: Contact Your MSP

Merchant service providers exist to help you though your payment processing challenges—and the EMV transition definitely falls in the “challenge” category. It’s not that making the transition is difficult, but rather it can be confusing for many merchants. There are so many compliance requirements to meet, and it can be tough to keep them all straight. Your MSP can help you understand what you still need to do before October and answer your questions along the way.

Step 2: Connect with a POS Provider

The average merchant only replaces their POS equipment every seven to ten years—and if you’re one of these merchants, there’s a pretty good chance that you’re going to need an upgrade in order to be able to accept EMV cards. Since EMV, or chip-and-pin cards, use a microchip to communicate payment data instead of a traditional magnetic stripe, outdated equipment will likely need to be completely replaced with new, high tech devices.

Step 3: Check Your EMV-Compatible Equipment

If you’ve already completed steps 1 and 2, you’ll want to make sure that your equipment is still up-to-standards. Even if you’ve received new EMV-compatible equipment, it might not necessarily be ready for the liability shift. Many merchants aren’t aware that the EMV requirements continue to be in flux, and have likely shifted since they bought their new POS. Your MSP can help to ensure that not only you have the equipment you need, but that it’s updated and configured properly.

Step 4: Train Employees

With new chip-and-pin cards being mailed out by credit card companies every day, more and more confused customers will begin to come through your business, not understanding exactly how to use their new cards. Now is the time to begin to train your employees on how to guide customers through the slightly modified transaction process. Happy, non-confused customers are repeat customers!

Once you’ve completed these steps, you’re not totally out of the woods yet! Moving forward, it will be your responsibility to monitor the shifting compliance requirements and ensure that your business’s equipment stays-up-to date. Of course, your MSP can help, and that’s where Abtek comes in. Give us a call today at (800) 544-9145 to find out how we can help you prepare during this final stretch of the EMV “chip card” transition.

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Please join us Tuesday, June 30, 2015 at Milford Presbyterian Church to learn how the October 1st EMV compliance deadline will affect businesses and consumers. Hosted in partnership with the Huron Valley State Bank, the seminar will cover:

What is required of business owners to meet the compliance deadline

How the changes in EMV technology will affect consumers

The benefits of the new system

Tami Cohorst, VP of Abtek and known leader in the credit card processing world will lead the discussion. Tami’s in-depth EMV knowledge enables her to help merchants grow their businesses through education and new technology. Media outlets like Entrepreneur and MLive have turned to Tami to for her ability to educate business owners on the importance of updating their payment processing systems. She is always on the lookout for new technologies in an effort to stay ahead of the game when it comes to industry ideas, thoughts and products.

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Today, the ability to process credit cards is essential for the success of any business, regardless of size. According to a Javelin study, approximately 66% of all in-store purchases are made with credit or debit cards–and that percentage is only expected to grow as more and more people move towards EMV and mobile payment solutions.

For so long, small businesses have been plagued with not being able to afford the charges associated with accepting credit cards, but today, there’s really no way around it. And while it may be tempting for small businesses to try to save a few bucks by not using a merchant service provider (MSP), it could end up costing you much more in chargebacks (and headaches!) in the long run.

Here’s a look at why your small business may benefit from utilizing the services provided by a MSP.

Does Your Business Really Need Merchant Services?

MSPs provide value added services, so businesses are not technically required to work with one. However, the benefits of working with an MSP often outweigh the costs. A few of the major advantages include:

Keeping You Connected – Merchants can’t legally have a “direct” relationship with providers like Visa or MasterCard. That’s where MSPs come in handy. They help businesses stay connected with the credit card associations and help to keep communication flowing.

Your Advocate Against Chargebacks – Most small businesses have to deal with chargebacks at some point or another, which can cause a lot of stress and lost profits. In the event of a chargeback, it’s critical for the business to react quickly. MSPs actively monitor account activity so that no wrongful chargebacks or errors slip through the cracks.

Providing the Support You Need – Let’s be honest: Credit card processing can be really confusing. MSPs provide your business with the expertise and resources you need to navigate through the complex world of changing compliance rules and new technology.

Don’t Settle for Less: How to Select a Provider

MSPs come in all shapes and sizes, so it’s important for your business to select one that’s a good fit for your business. Here are a few things to consider:

Longevity – Over the years, MSPs have gotten a bad rap for being rather “slimy,” but they’re not all bad guys. One of the best ways to be sure you’re working with a reputable company is to take a look at how long they’ve been in business. Frequent “restructuring” isn’t a good sign in this business.

Accessibility – The only time you’ll probably need to call your MSP is when you run into a problem that needs to be fixed ASAP. A great MSP will have 24/7 live customer service available to walk you through the most frustrating credit card processing challenges.

Top-of-the-Line Technology – In today’s super speed world, you’re going to want to work with an MSP that stays up-to-date on the latest payment processing technologies, especially with the EMV transition around the corner.

At the end of the day, merchant services providers can make credit card processing a whole lot easier for small businesses. They’re able to save you money by proactively managing chargebacks and fees, and keep the lines of communication open between the credit card companies and the businesses. As your small business grows and your credit card processing needs expand, an MSP can be there every step of the way to ensure a stress-free payment experience for you and your customers.

Stay updated on payment processing trends by following Abtek on Twitter and Facebook. Sign up to receive our newsletter, too.

Tami Cohorst, Abtek’s Vice President, was recently featured on Entrepreneur.com, a prominent online resource for business development news.

New and major credit card processing procedures are set to change the way we do business, thanks to the 2015 EMV Compliance Mandate.

The U.S. is the world’s final market to become EMV-compliant. Our adoption and accessibility to the technology will likely transform all industries that depend upon processing payments via credit cards.